Tenn. Comp. R. & Regs. 0620-01-09-.01

Current through October 22, 2024

Section 0620-01-09-.01 - POLICY STATEMENT

The General Assembly, in Tennessee Code Annotated Section4-4-120, authorized the Commissioner of Finance and Administration and the Comptroller of the Treasury to establish procedures for the write-off of uncollectible accounts receivable by all state agencies, departments, and institutions which charge the public, create a debt to the state, and maintain accounts receivable. These rules, which have been promulgated by the Department of Finance and Administration and concurred in by the Comptroller, set forth the write-off procedures. These rules recognize that certain amounts of bad debt will occur when accounts receivable are established. Furthermore, in the case of certain accounts receivable it is in the best interests of the State to write off such accounts receivable rather than pursue collection efforts.

Tenn. Comp. R. & Regs. 0620-01-09-.01

Original rule filed June 6, 1979; notice of disapproval hearing filed September 11, 1979; continued November 13, 1979; approved by GOC December 11, 1979. Repeal filed August 24, 2000; effective December 29, 2000. New rule filed February 1, 2002; effective June 28, 2002.

Authority: T.C.A. §§ 4-5-202 and 4-4-120.